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CATEGORY

ECONOMY

Bank of England to hold rates as UK economy rebounds

The Bank of England is expected to leave interest rates on hold at the historic low of 0.1 per cent on Thursday as the...

US economy shrank at record-breaking 33% rate during second quarter

The US economy shrank at a dizzying 32.9 per cent annual rate in the second quarter – by far the worst quarterly plunge ever. The...

Stores may become private housing following closures

John Lewis is considering turning empty stores into private housing to help drive growth. This follows and announcement from UK Prime Minister Boris Johnson last...

UK borrowing hits record £128bn amid Covid-19 lockdown

The UK's borrowing rocketed to a record £127.9 billion (€142 billion) in the first quarter of the financial year due to soaring spending at...

BBC to reduce pool of presenters and make more job cuts in news

The BBC has announced plans to reduce its pool of presenters and make further job cuts in its news division. The broadcaster, which celebrates its...

Britain heads for sharpest economic slump of major economies in Covid-19 storm

Britain will suffer the sharpest peak-to-trough economic slump of any major economy this year, rating agency Moody’s has warned, and ramp up national debt...

EU forecasts deeper economic hit from coronavirus pandemic

The European Union’s executive arm has forecast that the bloc’s economy will contract more than previously expected because of the coronavirus pandemic. The 27-nation EU...

UK unemployment rate could hit 15% after second Covid wave, OECD warns

Nearly one in seven people in the UK might be unemployed by the end of this year if a second wave of the pandemic...

UK retail job losses: 24,000 and rising

More than 24,000 jobs have already been lost in the UK, across high street retailers in administration, in the first half of 2020 after...

Coronavirus sees UK economy suffer largest fall since 1979 in first quarter

The UK economy contracted by more than first thought between January and March as the coronavirus crisis saw activity tumble 2.2% in the joint...

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